Dealing With Tax Deeds And A Dissolved Company
We have a chance to aquire tax deeds on a couple of lots that were owned by a Company. The problem is the company is not in business anymore and dissolved around 3 or 4 years ago. Usually if owned by an individual you could try to obtain a quit claim to uncloud the title. Since the company no longer exists is it possible to immediately start a quiet title action and avoid the right of redemption period? Anyone ever had any experience with something like this?
PS. I am in Alabama but like to hear from all...
Look and see who the owners were and try to get them to sign (the owners of the corp I mean)
My first investment property was a condo in 1989. My second investment was a condo in 1993. My third investment was a condo in 1994. My fourth was a condo in 1997. All together I spent $19,000 to buy them (cash out-of-pocket) and they have a combined worth of$605,000. I have no refinanced any of them so the total equity is $423,000.
All my friends told me I was nuts to buy condos. Presently I am looking for another investment; it will be a condo!
My first investment property was a condo in 1989. My second investment was a condo in 1993. My third investment was a condo in 1994. My fourth was a condo in 1997. All together I spent $19,000 to buy them (cash out-of-pocket) and they have a combined worth of$605,000. I have no refinanced any of them so the total equity is $423,000.
All my friends told me I was nuts to buy condos. Presently I am looking for another investment; it will be a condo!
My first investment property was a condo in 1989. My second investment was a condo in 1993. My third investment was a condo in 1994. My fourth was a condo in 1997. All together I spent $19,000 to buy them (cash out-of-pocket) and they have a combined worth of$605,000. I have no refinanced any of them so the total equity is $423,000.
All my friends told me I was nuts to buy condos. Presently I am looking for another investment; it will be a condo!
My first investment property was a condo in 1989. My second investment was a condo in 1993. My third investment was a condo in 1994. My fourth was a condo in 1997. All together I spent $19,000 to buy them (cash out-of-pocket) and they have a combined worth of$605,000. I have no refinanced any of them so the total equity is $423,000.
All my friends told me I was nuts to buy condos. Presently I am looking for another investment; it will be a condo!
My first investment property was a condo in 1989. My second investment was a condo in 1993. My third investment was a condo in 1994. My fourth was a condo in 1997. All together I spent $19,000 to buy them (cash out-of-pocket) and they have a combined worth of$605,000. I have no refinanced any of them so the total equity is $423,000.
All my friends told me I was nuts to buy condos. Presently I am looking for another investment; it will be a condo!
My first investment property was a condo in 1989. My second investment was a condo in 1993. My third investment was a condo in 1994. My fourth was a condo in 1997. All together I spent $19,000 to buy them (cash out-of-pocket) and they have a combined worth of$605,000. I have no refinanced any of them so the total equity is $423,000.
All my friends told me I was nuts to buy condos. Presently I am looking for another investment; it will be a condo!
What state did you buy the condos. In Cook County they all get bid down to 0% and get redeemed. The bank ssure love someone paying the taxes at 0% and they redeeming in the last minute.
If there is a tax lien on it then most likely it will NOT be erased should you be so successful as to win the bid.
Dunno CA. In IL, State liens do not get erased. You can pay them off though before you get a deed. Hope the math comes out. And you still have to serve the State.
Mortgages get wiped out in IL if you serve them right. They redeem in almost all cases. Mortgage companies have companies that do the redemption for them (usually very well timed and at the last minute, so they can save more money).